Wade Chapel African Methodist Episcopal (AME) Church, Hillsboro TX

10-10-80 Plan

What Is The 10 10 80 Plan?

This is a plan designed to help you and your children to become self-sufficient during your working years; be financial stable during your retirement years; and leave a financial legacy for your heirs.

It is based on what you can do to help yourself, not what someone else can do for you.

How The 10-10-80 Plan Works

This Plan is based on the premise that we spend all of our INCOME every day/week/month. We live on 100% of our income. (Some may even live on MORE than 100% of income: Credit Cards.) The 10-10-80 Plan will assure you of a comfortable retirement in your declining years and the ability to leave an inheritance to your children and grandchildrenóregardless of how much or how little you earn in your lifetime.

The 10-10-80 Plan applies to all Income without regard to its source: welfare, unemployment, interest on savings, salary, gifts, everything. If you now live from payday to payday then you can benefit from 10-10-80. It is just as easy to live on 80% as it is to live on 100% after you get started and GET USED to this plan.

If we teach our children to start living on 80% from the beginning it will be much easier for them to continue. The first Income they receive; perhaps a weekly allowance should be applied to this plan. When they become docters, lawyers, teachers, plumbers, or even politicians, they should continue to live on 80% of Income. It is not difficult to continue to live on 80% throughout their lives if that is all they have known.

The Steps To Get Started

Cut Up and Dispose of all Credit Cards Except One.

DO NOT use this card except in an EMERGENCY. An emergency is an event that is LIFE THREATENING. Food and clothing does NOT constitute an emergency.

Develop a PLAN to pay off the balances on the cards you cut up. Write a letter to each one
offering to pay a certain affordable amount each month until the balance is paid off; IF they will suspend the accumilation of interest on the balance. If they refuse your offer, don't pay anything on the balances.

Don't be concerned about a "Bad Credit Rating". That is part of the problem, too much credit. After you implement this plan and become financially stable, banks will beat a path to your door offering credit.

Give the First 10% (or more) of All Income to Your local Church--the Church you attend on REGULAR basis.

If you don't have a local church, come to Wade Chapel AME Church of Hillsboro Texas. Pastor Baker, Mrs. Bush, the staff and members will be glad to assist you.

There are no OPTIONS or EXCUSES here. This is The Tithe. Every time you receivie anything of value from any source; the first 10% is returned to God. It is His in the first place.
In the Book of Haggai, God says, "The gold is mine. The silver is mine."

If you are not a believer in Christ, you need to become a believer. That is also not an option; Christ died for your sins. Click Here for more information. Non-believers have no future anyway so this plan does not apply to them.

Invest the second 10% of your Income using your local Credit Union

In these difficult economic times, Credit Unions are the most stable. I personally do not know of any Credit Union that has failed while many large banks have failed. You can use your local bank or any STABLE financial institution of your choice that will pay the greatest interest with the least amount of RISK. Click Here: to learn how to perform Trade Studies to determine what is best for you. To my knowledge, no Credit Union has ever lost money for a client.

Learn to live on the Remaining 80% of Your Income

Most people live from payday to payday. If you start out your working life living on 80% of your income you can continue to live from payday to payday and still save and invest for Retirement.

How To Start

This plan is for everyone. The newborn babies will benefit the most but everyone can benefit. If you are near the end of your Working Life you won't be able to accumluate as much as someone just beginning. But, and this is a big "BUT", you will have more than what you would have had if you do not invest in the future.

Here's the Steps:

Give The Tithe [10%of your gross income] to the church. Have this automatically deducted and deposited into the Church Account. Every time you get a pay raise, bonus or any additional income, that must be tithed also. If your Church objects to this, you are in the wrong church. Come to Wade Chapel AME Church in Hillsboro Texas.

Go to your Credit Union or financial Institution of Choice open an Interest Bearing Account. If you are a parent, open one for yourself and one for each of your children.

Make an Initial Deposit into each account. It does not have to be a large deposit, but makea deposit.

Make Regular Deposits to each account. Determine Regular Deposit. The children's deposit must be at least 10% of each child's Income. (Give your children a regular allowance and take them to the Credit Union to make their deposit.) Your Regular Deposit should be at least 10% of your Gross Income, but if you have been living PayDay to PayDay this might not be possible at first. But you need to get to that level as soon as possible. Work on it!

After the Regular Deposits are established, the only change must be an increase, unleSs your income decreases and even then keep THE PERCENTAGE (10%) constant.

Prove That This Plan Will Work For You

The Link below will take you to a Financial Calculator. With this calculator you will be able to do "what-if-I" studies to see what can happen.

Click on the Financial Calculator link below and us the calculator to prove to yourself what you can do about your retirement starting right now!

If, after you fully understand the 10-10-80 Plan, you decide it is not for you, forget it and keep on doing what you've been doing. Hopefully (But I doubt it) you will have some form of Income for your later years.

If however, you believe the plan can work for you, GO FOR IT! GOD LOVES YOU!

What Are the Advantages?

What Are The Disadvantages?

NONE - If you think there are disadvantages, this plan is not for you. Forget iat and keep on doing what you have been doing and you will continue to get what you've been getting.

If, however, you are not happy with what is happening to or for you, then you must change something! Try the 10-10-80 plan for ten(10) years and then see where you are!

How Does It Affect My Other Plans, 401K, Social Security, Etc.?

NO EFFECT. Keep all these plans in effect. Retirement plans by your employer or the government that you have in place should be kept in place. You earned them. This plan is designed to make you independent of every man-made organization or entity. YOU ARE DEPENDENT ON GOD AND GOD ALONE.